ROX RESOURCES LIMITED - Investor Presentation 2017

ASX: RXL

Acquire, Explore, Develop The Rox Formula for Growth

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Mining 2017 Conference

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29 August 2017

Ian Mulholland - Managing Director

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Corporate Information
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Key Information ASX Code: RXL Share Price: A$0.014 Shares: 1,244M Unlisted Options: 83.8M Market Cap: $17.4M Cash (as at 30 June 2017): $13.9M EV: $3.5M Top 20: 26%

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Who is Rox?
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An awarded Australian exploration company Strong Financial Positon: Cash of ~ $14 million & receivables of ~$4 million , no debt JORC Mineral Resources of Nickel and Gold Projects in Australia Committed management with “skin in the game”

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Spot the Opportunity
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Rox seems under-valued based on the size and grade of our nickel resources Cash is ~$14m + ~$4m in receivables

Bubble size relates to amount of contained nickel, based on data as of 4 May 2017

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Money in the Ground
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~70% of funds into exploration since inception

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~80% of funds into exploration over the last 5 years (~$20 million)

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Rox Growth Projects
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Fisher East Nickel Sulphide Project

Resource of 50,000t (110 Mlb) of contained nickel, 2.0 Mt @ 2.5% Ni[1 ]
Potential to increase resources
High quality targets
Cobalt potential

Reward Zinc-Lead Project Sale

$19.73 million sale
• Cash $15.97 million paid
• $3.75 cash million in 6 years

Bonya Copper Project

38m @ 4.4% Cu

Collurabbie Nickel-Gold Project

5.8m @ 3.0% Ni, 2.0% Cu, 5.3g/t PGE
Under explored nickel-gold belt • Cobalt potential

Mt Fisher Gold JV

Strong potential to increase current resources of 86,000 ozs[1 ]
• $10M JV with Doray Minerals

1 See Appendix for Mineral Resource details

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Nickel Primed For Recovery?
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Current uncertainty about nickel – Indonesia, Philippines Spot price has risen from low a year ago Nickel supply predicted to go into deficit over next 4 years Chinese stainless steel production stronger than expected Significant extra demand for nickel in electric vehicles

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Nickel Price Projections
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Nickel is predicted to move the most of the base and precious metals over next 4 years
Predicted to be ~US$15,000/t (=US$6.80/lb) by 2021 (4 years)- that’s >A$19,000/t (~A$8.80/lb)
Hartleys Research 17 March 2017, SNL Research

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Nickel Projects
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Two nickel sulphide projects in WA’s northern goldfields

Fisher East is a new nickel province – discovered in 2013 by Rox

Collurabbie discovered in 2004 by WMC – but relatively unexplored

Fisher East and Collurabbie are just 70km apart – project development synergies Mineral Resource of ~ 50,000 tonnes Ni metal @ 2.5% Ni at Fisher East Mineral Resource of ~13,500 tonnes Ni equivalent @ 2.3% at Collurabbie

* See Appendix for Mineral Resource details

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Development Studies
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Low technical risk project :

o Toll milling – truck ore to nearby plant (two plants within 200km)

o Build a plant on site – truck concentrate for sale Decline to underground mine ~100m depth to sulphides

Standard underground mining techniques and costs (A$130/t)

Metallurgical recoveries, 80 – 99%, and saleable concentrate grades, 10 - 14% Ni, acceptable Fe:MgO ratios, low As (no penalties) Straight forward process flow sheet and logistics Increased resources will increase mine life and project value

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Fisher East Nickel
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Four deposits discovered so far, Musket, Cannonball, Camelwood & Sabre

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Total Mineral Resource on three deposits of 2.0 Mt @ 2.5% Ni , for 50,000 tonnes Ni metal*

* See Appendix for Mineral Resource details

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Exploration Targets
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10m @ 1.9% Ni Resource to be drilled out at Sabre

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Fresh sulphides in aircore at Mt Tate Resource to be drilled out at Sabre Exploration ongoing on multiple targets along 25km of strike Looking to double total resource base

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Collurabbie Acquisition
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123km[2] of prospective tenure Main discovery at Olympia deposit Widespread Ni-Cu-PGE mineralisation over ~15km strike length on multiple stratigraphic horizons Drill targets for Ni-Cu-PGE Drill targets for Gold Quality datasets of drilling and extensive geophysics

Underdone previous exploration Cheap* counter-cyclical quality acquisition

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$25,000 cash + 7.5 million RXL shares (~$150K)

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Exploration Potential
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Olympia Mineral Resource of 573,000 tonnes @ 1.6% Ni, 1.2% Cu, 0.08% Co and 2.3 g/t Pt+Pd, 2.3% NiEq High grade drill intercepts Open at depth* Exploration potential over 15km of strike Aircore drilling planned

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See ASX:RXL 18 August 2017 for resource details

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Attractive Gold Potential
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JORC Mineral Resource of 86,000 ounces* on Rox’s ground

Large scale gold-in-regolith anomaly along complex western shear zone (DamselDam-Shiva) – 10km long

Number of strong gold targets at intersections of shear zone and cross-cutting faults and shears

Further work planned

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See Appendix for Mineral Resource details

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Bonya Copper Project
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Rox 51%, Arafura 49%

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High grade copper sulphides at the Bonya prospect 11m @ 4.4% Cu , incl. 3m @ 6.1% Cu 38m @ 4.4% Cu , incl. 6m @ 8.8% Cu and 8m @ 7.9% Cu 5m @ 9.1% Cu , incl. 3m @ 13.4% Cu and 11m @ 3.9% Cu Open at depth Numerous untested prospects

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Jervois North
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Jervois North Bonya Mine

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Ground Gravity survey shows Jervois mineralized trend continues into Rox JV ground Strong drilling target

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Value Proposition
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~$19 million in cash and receivables Outstanding gold and nickel assets located in WA, the world’s #1 jurisdiction[1] Looking to double Ni resources to >100,000 tonnes contained nickel Studies demonstrate a technically robust project at Fisher East Focus on growing shareholder wealth by acquiring, exploring, and developing projects Search for additional projects underway

1 Fraser Institute 2016

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Project Search
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The End

Rox Resources Limited Level 1, 34 Colin Street, West Perth, WA, 6005 AUSTRALIA T: (08) 9226 0044 F: (08) 9322 6254

E: [email protected] W: www.roxresources.com.au

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Disclaimers
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Forward-Looking Statements

This presentation has been prepared by Rox Resources Limited. This document contains background information about Rox Resources Limited current at the date of this presentation. The presentation is in summary form and does not purport be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

Competent Person Statements

Resource Statements

The information in this report that relates to nickel Mineral Resources for the Olympia deposit was reported to the ASX on 18 August 2017 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 18 August 2017 , and that all material assumptions and technical parameters underpinning the estimates in the announcement of 18 August 2017 continue to apply and have not materially changed.

The information in this report that relates to nickel Mineral Resources for the Fisher East project was reported to the ASX on 5 February 2016 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 5 February 2016, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 5 February 2016 continue to apply and have not materially changed.

The information in this report that relates to gold Mineral Resources for the Mt Fisher project was reported to the ASX on 10 February 2012 (JORC 2004). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 10 February 2012, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 10 February 2012 continue to apply and have not materially changed.

Exploration Results

To the fullest extent permitted by law, Rox Resources Limited, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Rox Resources Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Rox Resources Limited does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

Exploration Results herein are based on information compiled and released to the ASX as follows:

Fisher East (ASX:RXL Between 1 December 2012 and the present)

Collurabbie (ASX:FCN 17 August 2004, 10 November 2004, 3 December 2004, 8 March 2005, 5 July 2010, and 8 July 2011).

In the case of the Exploration Results and Mineral Resources reported under the 2004 JORC Code, they have not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

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Appendix – Mineral Resources
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Fisher East Nickel, ASX:RXL 5 February 2016

Mt Fisher Gold, ASX:RXL 10 February 2012

Deposit	Category	Tonnes (Mt)	Ni%	Ni (kt)
	Indicated	0.99	2.56	25.3
Camelwood	Inferred	0.08	2.52	2.0
	Total	1.06	2.56	27.3
	Indicated	0.15	3.43	5.1
Cannonball	Inferred	0.01	2.41	0.2
	Total	0.16	3.38	5.3
	Indicated	0.79	2.21	17.4
Musket	Inferred	0.03	1.94	0.7
	Total	0.82	2.20	18.0
	*Indicated*	*1.92*	*2.49*	*47.8*
TOTAL	*Inferred* Total	*0.12* 2.04	*2.35* 2.48	*2.9* 50.6

Deposit	Category	Tonnes				Cut
			Grade	Metal	Grade	Metal	Value
			(g/tAu)	(Ozs)	(g/tAu)	(Ozs)	(g/tAu)
Moray Reef	Measured	25,700	10.84	8,957	7.96	6,577	80
	Indicated	4,900	6.09	959	5.95	937	80
	Inferred	1,200	3.87	149	3.87	149	80
	TOTAL	31,800	9.85	10,066	7.50	7,664	80

Mt Fisher	Measured	119,600	3.72	14,304	3.60	13,843	50
	Indicated	56,700	3.62	6,599	3.62	6,599	50
	Inferred	38,900	3.44	4,302	3.41	4,265	50
	TOTAL	215,200	3.64	25,206	3.57	24,707	50

Damsel	Measured	26,600	2.91	2,489	2.68	2,292	30
	Indicated	143,300	2.47	11,380	2.39	11,011	30
	Inferred	556,100	2.34	41,837	2.26	40,407	30
	TOTAL	726,000	2.39	55,705	2.30	53,710	30

TOTAL	*Measured* *Indicated* *Inferred*	*171,900* *204,900* *596,200*	*4.66* *2.87* *2.41*	*25,750* *18,938* *46,288*	*4.11* *2.82* *2.34*	*22,712* *18,548* *44,821*
	TOTAL	973,000	2.91	90,976	2.75	86,080

Olympia Nickel-Copper-PGE, ASX:RXL 18 August 2017

Tonnes	Ni %	Cu %	Co ppm	Pd ppm	Pt ppm	NiEq %*	NiEq (kt)	Pd+Pt (oz)
573,000	1.63	1.19	820	1.49	0.85	2.36	13.5	42,971

Fisher East: 1.5% Ni block cut-off grade. Values may not sum due to rounding. JORC 2012 Mt Fisher: 0.8 g/tAu block cut-off grade. Values may not sum due to rounding. JORC 2004 Olympia: 1.0% Ni block cut-off grade. Values may not sum due to rounding. JORC 2012

*NiEq = (Ni grade x Ni price x Ni recovery + Cu grade x Cu price x Cu recovery) / (Ni price x Ni recovery) Where Ni price = US$10,300/t, Ni recovery = 85% (assumed), Cu price = US$6,322/t, Cu recovery = 85% (assumed)

AI assistant

ROX RESOURCES LIMITED Investor Presentation 2017

65741_rns_2017-08-29_0b55f9a9-e598-4265-8890-fd7f08090cf6.pdf

ASX: RXL

Acquire, Explore, Develop The Rox Formula for Growth

Fisher East Nickel Sulphide Project

Reward Zinc-Lead Project Sale

Bonya Copper Project

Collurabbie Nickel-Gold Project

Mt Fisher Gold JV

Low technical risk project :

The End

Forward-Looking Statements

Competent Person Statements

Resource Statements

Exploration Results

Fisher East Nickel, ASX:RXL 5 February 2016

Mt Fisher Gold, ASX:RXL 10 February 2012

Olympia Nickel-Copper-PGE, ASX:RXL 18 August 2017

AI assistant

ROX RESOURCES LIMITED — Investor Presentation 2017

65741_rns_2017-08-29_0b55f9a9-e598-4265-8890-fd7f08090cf6.pdf

ASX: RXL

Acquire, Explore, Develop The Rox Formula for Growth

Fisher East Nickel Sulphide Project

Reward Zinc-Lead Project Sale

Bonya Copper Project

Collurabbie Nickel-Gold Project

Mt Fisher Gold JV

Low technical risk project :

The End

Forward-Looking Statements

Competent Person Statements

Resource Statements

Exploration Results

Fisher East Nickel, ASX:RXL 5 February 2016

Mt Fisher Gold, ASX:RXL 10 February 2012

Olympia Nickel-Copper-PGE, ASX:RXL 18 August 2017

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